Million Pound Mortgages
Whole-of-Market
High Net Worth
Interest Only Options
Million Pound Mortgage Broker Experts
We provide whole-of-market advice for buyers, homeowners, and investors borrowing £1 million or more, helping borrowers identify which mainstream, specialist, and private bank lenders will consider the loan and how the application should be structured.
Million Pound Mortgages Must Be Structured Correctly Before a Lender Will Proceed
Million pound mortgages are underwritten differently from standard loans because most high street lenders apply large loan policies once borrowing passes their internal threshold. Income type, repayment structure, loan to value, and the property itself all affect which lenders will consider the case, and applications that fit one lender’s large loan policy may fall outside another’s entirely.
Specialist Placement for Homebuyers, Landlords, and High Net Worth Borrowers
We help residential buyers, remortgaging homeowners, portfolio landlords, and high net worth individuals arrange million pound mortgages across mainstream lenders, specialist lenders, and private banks. Correct lender matching depends on how income is earned, whether interest only is required, and whether assets can support the application, reducing the risk of delay or decline.
What is a Million Pound Mortgage?
A million pound mortgage is a home loan or investment property loan of £1,000,000 or more, secured against a residential, buy to let, or commercial property in the United Kingdom. Million pound mortgages are often referred to as large loans or high value mortgages, and many lenders assess them under separate large loan underwriting policies rather than standard criteria.
Borrowing at this level is not limited to private banks. Some high street lenders offer million pound mortgages through their standard or premier ranges, while specialist lenders and private banks can accommodate more complex income, interest only requirements, or multi-million pound borrowing that falls outside mainstream policy.
When comparing million pound mortgage lenders, the headline interest rate does not tell the whole story. Lenders vary in how they treat bonus and self-employed income, the maximum loan to value they will offer at this loan size, and whether interest only is available.
A full assessment should consider:
- Loan size band – £1 million, £1.5 million, £2 million, or multi-million pound borrowing
- Income type – employed, bonus-led, self-employed, investment, or foreign currency income
- Repayment type – capital repayment, interest only, or part and part
- Loan to value available at the loan size requested
- Property type and location, including prime and non-standard property
- Whether the borrower meets the Financial Conduct Authority (FCA) high net worth exemption
Assessing these factors together gives a realistic view of which lenders are likely to offer the most suitable million pound mortgage, rather than relying on a single lender’s headline rate alone.
Million Pound Mortgage Rates August 2026
Million Pound Mortgage Lender Criteria
Types of Million Pound Mortgages
Lender appetite for a million pound mortgage depends heavily on the property use, the borrower's income structure, and the total loan size. The sections below cover the most common scenarios searched for by buyers, homeowners, and investors.
A £1 million pound house mortgage is a residential mortgage used to buy or remortgage a main home valued high enough to support borrowing of £1,000,000 or more. At this loan size, many lenders move the application into a large loan or premier underwriting process, where affordability is assessed manually rather than by automated scoring alone.
We work with lenders who take a pragmatic view of £1 million house mortgages, provided the income evidence is presented correctly. Our panel includes lenders who will consider:
- Employed applicants with significant bonus, commission, or vested share income
- Self-employed applicants using net profit or salary and dividends
- Interest only or part and part structures with a credible repayment strategy
- Day-rate contractors and partners in professional practices
- Applicants with complex or multi-source income
If you are trying to get a 1 million pound mortgage on a residential property, speak to us first. We will identify which lenders’ large loan policies fit your income and how much of your variable income each lender will use.
Get in touchA multi million pound mortgage is a loan of £2,000,000 or more secured against UK property, and at this level private banks and specialist large loan lenders become increasingly relevant. Multi million pound mortgages are usually individually underwritten, meaning the lender assesses the whole financial position – income, assets, liabilities, and liquidity – rather than applying a simple income multiple.
We arrange multi million pound mortgages for borrowers including:
- Buyers of prime and super-prime property in London and across the UK
- Entrepreneurs and shareholders with wealth concentrated in a business
- Borrowers using assets under management (AUM) arrangements with private banks
- International buyers and expats purchasing high value UK homes
- Borrowers refinancing existing large loans onto better structured terms
A £1 million pound buy-to-let mortgage is an investment mortgage of £1,000,000 or more secured against one rental property or structured across a portfolio. Buy to let lending at this level is assessed primarily on rental income coverage, though many lenders also apply minimum personal income requirements and background portfolio checks at larger loan sizes.
Our lender panel includes providers who will consider million pound buy-to-let mortgages where
- The property is held personally or in a limited company Special Purpose Vehicle (SPV)
- The security is a single high value asset, a House in Multiple Occupation (HMO), or a Multi-Unit Freehold Block (MUFB)
- Top slicing from personal income is needed to support the rental calculation
- The borrower is a portfolio landlord with four or more mortgaged properties
- The borrower is an expat or foreign national investing in UK property
A £1.5 million commercial mortgage is a business loan secured against commercial or semi-commercial property, such as offices, retail units, hospitality premises, or mixed-use buildings. Commercial mortgage payments at this level are driven by the loan structure, as commercial lenders price individually based on the property, the tenant or trading business, and the strength of the covenant.
Our commercial panel will consider £1 million to multi-million pound commercial mortgages for:
- Owner-occupiers buying their trading premises
- Commercial investment purchases with tenants in place
- Semi-commercial property combining residential and business use
- Refinances to release equity from commercial assets
How We Arrange Your Million Pound Mortgage in 4 Steps
How Lenders Assess Million Pound Mortgage Repayments and Affordability
What Drives the Monthly Payment on a Million Pound Mortgage
The monthly repayments on a £1 million mortgage are determined by three variables: the interest rate secured, the mortgage term, and the repayment type. A capital repayment mortgage costs more each month than an interest only mortgage of the same size, because the payment includes both interest and repayment of the loan itself.
Loan Size Bands – £1m, £1.1m, £1.25m, £1.5m, £2m and Above
Repayments scale broadly in proportion to the loan size, so the monthly payment on a £1.2 million mortgage or a £1.3 million mortgage is calculated in exactly the same way as on a £1 million mortgage – the loan amount changes, the mechanics do not. What does change as borrowing rises is lender appetite: some lenders cap lending at a set loan size or reduce the maximum loan to value on larger loans, which is why placement matters more at £1.5 million and above than the payment arithmetic itself.
Manual Underwriting and Large Loan Policies
Most lenders underwrite million pound mortgages manually. Underwriters review income documents in detail, apply judgement to bonus and self-employed income, and may seek senior sign-off, which is why well-packaged applications progress noticeably faster at this loan size.
Income Multiples and Variable Income
Lenders typically lend a multiple of gross income, but the multiple offered and the percentage of bonus, commission, or dividend income used varies significantly between lenders. On a million pound mortgage, the difference between a lender using 50% of bonus income and one using 100% can change the maximum loan by hundreds of thousands of pounds.
Interest Only on Large Loans
Interest only is more widely available on million pound mortgages than on smaller loans, because lenders accept repayment strategies such as sale of the property, sale of other assets, or investment portfolios. Lenders set their own minimum equity and income requirements for interest only, which should be confirmed before applying.
The High Net Worth Exemption
The Financial Conduct Authority (FCA) allows lenders to treat qualifying borrowers as high net worth mortgage customers, which permits more flexible, individually tailored underwriting. The exemption is defined by minimum income or asset thresholds set out in FCA rules.
Private Banks and Assets Under Management
Private banks may offer million pound and multi-million pound mortgages on the condition that the borrower places assets under management (AUM) with the bank. AUM arrangements can unlock lending that income alone would not support, but the overall cost of the relationship should be compared against standalone mortgage options.
Property Type, Prime Locations, and Valuations
High value property can be harder to value because comparable sales are fewer, particularly for prime, rural, or unique homes. Lenders may instruct specialist valuers on million pound mortgage applications, and some reduce maximum loan to value where the property is non-standard or highly individual.
Income Structure Outside the Lender's Policy
Income Structure Outside the Lender’s Policy
Bonus-heavy, self-employed, or foreign currency income that falls outside a lender’s large loan policy is the most common reason for decline, even where the borrower can clearly afford the loan.
Loan to Value Too High for the Loan Size
Some lenders reduce their maximum loan to value as the loan size increases, so an application that works at £750,000 may be declined at £1.2 million on otherwise identical terms.
Interest Only Without an Acceptable Repayment Strategy
Interest only requests are declined where the proposed repayment strategy does not meet the lender’s rules, even when the borrower’s income comfortably covers the payments.
Non-Standard or Hard-to-Value Property
Unique, rural, or non-standard construction property at high value can narrow the lender pool sharply, particularly where the valuer cannot evidence comparable sales.
Poorly Packaged Applications
Large loans are manually underwritten, so missing documents, unexplained transactions, or inconsistent income evidence cause delays and declines that correct packaging would have avoided.
Million Pound Mortgages Across the UK
Bristol has one of the strongest prime property markets outside London, with high value homes concentrated in areas such as Clifton, Redland, Sneyd Park, and Leigh Woods regularly supporting borrowing of £1 million or more. We help buyers and remortgaging homeowners across Bristol and the surrounding areas arrange million pound mortgages, matching applications to lenders whose large loan policies fit local property types, including period homes and listed buildings.
Get in touchLondon accounts for the majority of million pound and multi-million pound mortgage lending in the UK, driven by prime central London and the wider commuter belt. We arrange large loans for London buyers across mainstream lenders, specialist lenders, and private banks, including for international buyers and borrowers with complex income.
Get in touchDocuments Needed for a Million Pound Mortgage Application
Income Evidence
Payslips, P60s, bonus history, tax calculations (SA302s) and tax year overviews for self-employed applicants, or company accounts where dividends or retained profit are used.
Proof of Deposit and Assets
Bank and investment statements evidencing the deposit and, where relevant, the assets supporting an interest only repayment strategy or high net worth assessment.
Identification and Address History
Certified identification and proof of address, with additional source-of-wealth checks common at large loan sizes.
Property Information
Sales particulars, lease details where applicable, and tenancy or rental evidence for buy to let applications.
This content is for informational purposes only and does not constitute mortgage advice. Lending criteria and availability vary by lender and individual circumstances.
FREQUENTLY ASKED QUESTIONS AND ANSWERS ABOUT MILLION POUND MORTGAGES
The monthly payment on a £1 million mortgage depends on the interest rate, the mortgage term, and whether the loan is capital repayment or interest only. A capital repayment mortgage costs more per month than interest only at the same rate, because the payment also reduces the loan balance.
Get in touchRepayments on a £2 million mortgage follow the same calculation as any mortgage: the loan size multiplied by the interest rate, spread across the term. At £2 million, private banks and specialist large loan lenders become more relevant, and individually negotiated rates can materially change the monthly cost.
Get in touchYes, interest only is available on £1 million mortgages where the lender accepts your repayment strategy, such as sale of the property, investments, or other assets. Lenders set their own minimum equity and income requirements for interest only, so eligibility should be checked before applying.
Get in touchNo, million pound mortgages are available from some high street lenders, specialist lenders, and private banks. Private banks become more relevant for multi-million pound borrowing, complex income, or where lending is structured around overall wealth rather than income multiples.
Get in touchRepayments on a £1.1 million or £1.2 million mortgage are calculated in the same way as on any loan size: the balance, the interest rate, and the term determine the payment. The monthly cost scales broadly in proportion to the amount borrowed at the same rate and term.
Get in touchRepayments on a £1 million pound mortgage are calculated from the interest rate secured, the term chosen, and the repayment type. Shortening the term increases the monthly payment but reduces total interest, while interest only lowers the monthly cost but leaves the balance to repay at the end.
Get in touchThe income needed for a million pound mortgage depends on each lender’s income multiple and how much of your variable income they will use. Because lenders apply different multiples and treat bonus, commission, and self-employed income differently, the required income varies significantly between lenders.
Get in touchThe deposit needed for a £1 million pound house mortgage depends on the maximum loan to value each lender offers at that loan size. Some lenders reduce their maximum loan to value on larger loans, so the required deposit can be higher than on a standard mortgage.
Get in touchA million pound mortgage broker is a mortgage adviser who specialises in arranging loans of £1 million or more, with access to mainstream lenders, specialist lenders, and private banks. Whole-of-market brokers compare large loan policies across the market rather than recommending a single lender’s range.
Get in touchThe monthly payment on a £1.3 million or £1.4 million mortgage depends on the rate secured, the term, and whether the loan is repayment or interest only. At these loan sizes most lenders underwrite manually, and the rate offered can vary depending on how the application is packaged.
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